this scene played out across scandinavia earlier today. people pausing to remember the victims of that attack. as norway mourns we are hearing more from people who risked their lives to save others. our cnn s michael holmes caught up with one of them. it s not a huge boat. how many people did you put in here? the first round i believe it was 14. reporter: 14. yes. and then i had to address the oldest one and said you have to stay ashore. i promise i will come back and get you. they respected that. i said, sit down and wait. i went to the mainland. i went back again and they were agreed upon sitting there and i just waved to them like this and they waved back and we made a contact and got them in the boat. well, the clock is ticking on the debt limit crisis. there is no deal, if no deal by august 2nd, that means higher interest rates for you, a financial mess for the country, and the talks over the weekend, well, essentially they didn t go anywhere. so now republic
percent. both of those numbers, by the way, coincide with ryan s plan. take capital gains tax rates to zero. don t just reduce it. because, you see, this is how we generate cash and equity for small businesses and new ventures. thirdly, provide a full payroll tax holiday for a year for workers and employers of the full 6.2%. then fourth, suspend taxes on repatriated foreign profits. we have, it s estimated, nearly a trillion dollars in overseas businesses, and some of the businesses would bring it back home, but they are trying to avoid double taxation. and then, bill, we put a bow around those four ideas, make them permanent. uncertainty is what s killing this economy. uncertainty is causing the job numbers you have shown to stay that way. and quite frankly and unfortunately, nothing s going to change with the current policies of this administration. bill: so you re saying that the indecision that s coming out of
were president would be my five-point plan: number one, i would lower the corporate tax rate from 35 percent to 25 percent, as well as lower the top personal tax rate. secondly, take capital gains tax rates to zero. third, suspend taxes on repatriated profits. those profits that have been generated by multi-national companies aren t doing us any good, then number four, provide a real payroll tax holiday. instead of this 2 percent payroll tax holiday that was passed by the president and congress at the end of last year, why not give a full 6.2% break to workers, as well as to employers, then number five, once you do those four things, make the tax breaks permanent. uncertainty is killing this economy. i would propose those five points, alisyn, to the united states congress, so we could get passage in the first 90 days of the cain administration. alisyn: her man cain, we look toward to forward to hearing more of your ideas
provide direct stimulus, not more spending. that little small, incremental payroll tax holiday that was part of that extension of the tax rate most people did not even feel it. secondly county all they did when they extended the tax rate for two more years as they were at those levels you have extended the uncertainty. here is director stimulus: we need to lower top tax rate from 35 percent to 20 percent because we are the only country in the world that has not done that in 15 years. does it not make sense. second, lower personal income tax rates, cutting taxes works. it gets demagogued by the liberal and lower capital gains tax rates. if we do all of that and they been proposed by the bipartisan deficit commission the last few months and many proposals you make, do we need to offset by closing down loopholes or just
response be to congressman ryan s budget plan? i would love the democrats to come up with their own budget plan that is not only a serious budget plan for reducing the long-term deficit, but also raise taxes on the very wealthy, the super rich in this country. they have seen for the last 30 years their portion of national income continue to grow and grow and grow. and yet their tax rates, their income tax rates, capital gains tax rates, their estate taxes, all continue to drop. i mean, why not? be democrats and say to the public, and i think most of the public agrees with this, that the rich have to pay their fair share. robert reich, the author of aftershock, the next economy in america s future. thank you very much for joining us tonight. thanks, lawrence. what are the real effects of a government shutdown? do soldiers still get their paychecks? does the president? how about congress? and what does a government shutdown mean for you? coming up, i ll talk with easy rah kli